Showing posts with label banking. Show all posts
Showing posts with label banking. Show all posts

Paying by Smart Phone

There isn't much doubt that all future purchasing and banking will done with a smart phone. New tech being tested like no pin number or signature payments are just "fill ins" until the final technology is perfected.

An old idea that has fallen by the wayside is having a picture of a card holder on the card itself. Just why this concept was dropped is unknown. The only card now with your photo is your driving licence.

Paying with a finger print is also something thought about, tested but never marketed. Retail at the moment is a mishmash of different methods of payment including the old fashioned cash payment. Older people still like to draw cash from an ATM. They like the idea of having cash on them so they can pay immediately. Immediacy will be even quicker using a smart phone.

Bendigo Bank has developed a system where a phone app generates a random code to finalize a transaction. They have been using such a system in the UK for many years now.

Eventually, a phone held against one's skin will take a measure of blood flowing through. A partial DNA reading will be taken which will verify that the phone owner and bank account holder is indeed the correct person. Much of this is possible with existing technology.
Technology by Ty Buchanan
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Trojans are Beating the Banks

Everyone is spying on everyone else. This is a matter of fact. Life has changed so much since the advent of the computer. Trojans are easy to create and even easier to spread. When you log on to just about any site trojans flood onto your system. Even if you delete them they are immediately put back on your computer again. They do their work as soon as you start work on anything, sending information back to the target source.

PCs, tablets and mobile phones are all vulnerable. New trojans are created daily in their thousands. Some are very damaging. The presence of the Hesperbot banking trojan doubled in two weeks. They spread like "wildfire". Emails commonly contain phishing bugs that look like real banking communications. They are after your username and password so they can empty your bank account.

When you are working on your PC have you ever had a txt file mysteriously open on it own? This could indicate keystroking where what you type is being watched and in many cases a foreign source is controlling your computer. Everything you see on your PC is being seen by another person.

This is a warning - do not save your banking username and password in a txt file in the Documents folder or in a password managing program. Password programs can be cracked and every password you have to all your sites can be accessed. If you cannot remember your password store it on a device that can easily be disconnected from your computer.

We do not know what the future holds. However, a bank login site can be copied exactly and look like the real thing. Do not click a link in an email that seems to be from your bank. You could be taken to the rogue site. Once they have your username and password they will empty it of money in a few minutes.
         Internet by Ty Buchanan

Banks Under Threat From the Internet

The Internet has disrupted the security of ordinary money. The economic system controlled by the banks for centuries is now under threat. Bitcoin is an example of new money. Its mere presence in feared by the banks. Money, or at least its value, depends on people having faith that it can easily be exchanged for different goods.

In Germany before WWII security in money was severely challenged. There was rampant inflation, so much so that people had to push barrow loads of  cash to a shop to get a loaf of bread.

New money is everywhere: PayPal has taken the banking world by storm. These bank-like services are being offered by Google, Apple and eBay. To get Followers on Twitter, many sites are offering seeds. Though the websites deny trading for followers, this is exactly what it is.

Google's Wallet is really a bank service. Smartphones can be swiped in store terminals to buy goods. The problem is most money does not really exist it is just recorded in books as they used to say. Now it is data stored on computers. The money supply is no longer controlled by central banks.

The question is - Will banks go the same way as traditional shopping centers and newspapers? It is possible!
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Conservation
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Medicare to Adopt Online Payment

It's about time Medicare moved into the modern age! Thankfully it has given people an alternative to queueing for their medical treatment rebate. It is a silly system anyway. X-ray clinics and specialists should be given the subsidy directly in the first place. This would reduce the number of public servants providing an unnecessary service.

Now "customers" will be able to fill in forms online. Payment will then be made directly into their bank accounts.

We are led to believe that Medicare delayed adoption of a direct payment process due to the potential for fraud. This is nonsense. Fraud could occur under the old system. Limiting payments to $250 a day will not stop fraud.

Medicare holds that people will continue to use the queuing method of refunds. Internet banking is increasing in popularity. There is no doubt most will change to the new system in droves.
~~~~~Health~~~~~
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